Glenda Dorchak, a director at ANSYS Inc. (NASDAQ:ANSS), recently sold 200 shares of the company's common stock. The shares were sold at a price of $336.62 each, amounting to a total transaction value of $67,324. Following this transaction, Dorchak holds 3,430 shares in the company, which includes 922 restricted stock units. The sale was executed under an effective Rule 10b5-1 plan.The transaction occurs as ANSYS, a $29.65 billion market cap company, trades near its 52-week high with an impressive gross profit margin of 92.31%. InvestingPro analysis indicates the stock is currently fairly valued, with 13 additional ProTips available to subscribers covering key metrics like earnings multiples and financial health indicators.
In other recent news, Synopsys (NASDAQ:SNPS) is expected to receive approval from EU antitrust regulators for its $35 billion acquisition of Ansys (NASDAQ:ANSS), a chip design software company. This follows Synopsys' commitment to divest two of its assets, the Optical Solutions Group and Ansys PowerArtist, to alleviate EU competition worries. Meanwhile, the UK's Competition and Markets Authority (CMA) has stated that it may accept the remedies offered by both companies, including the divestment of certain product lines.
In a recent collaboration, Ansys, Cognata, and Microsoft (NASDAQ:MSFT) announced the integration of Ansys' AVxcelerate Sensors simulation software into the Automated Driving Perception Hub (ADPH), a platform for testing and validating automotive sensors used in advanced driver assistance systems and autonomous vehicles. This collaboration aims to streamline the safety validation process for the industry as it moves towards fully autonomous driving.
In financial news, Ansys reported an 18% year-over-year increase in its Annual Contract Value (ACV), surpassing Baird's estimates by 5% and the consensus by 7%. In response to these strong results, Baird has raised Ansys' target to $365. All these recent developments highlight Synopsys and Ansys' commitment to navigating regulatory hurdles and driving growth through strategic partnerships and strong financial performance.
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